Hi,
One of my friend is the owner & CEO of a pvt ltd company. I become a partner with her 5% share holding in march 2008. I invested 5 lakhs amount. In that 1 lakh for 5% share, and remaining 4 lakhs as "unsecured loan". The unsecured loan will have some interest also. And also, I was holding role a innovation lead. For that role, she said she give salary at the end of the year [20k Per month]. I have the share certificate.
At a later stage, around Dec 2008 , We had some disagreement on many issues, and also I wanted to start something which she felt as a competitor, so i gave the letter to resign and withdrew my share, stating that ":I MAY involve with someother company which may be competitve in nature". But i havent started anything on my own. As per the agreement also, i can start anything after 1 year time after my resignation.
Ideally, I should get the share amount, 4 laksh with interest and my salary. She said she will give money Apr 2009. But till now, she hasnt given any amount of money. And also, the company is really doing bad now. Moreover, recently she told me, she utilised the "unsecured loan " amount also for the company, she didnt ask me for any permission for it.
How can I get back my money? Atleast "Unsecured loan" can i get it without any issues. I dont have any knowledge about legal issues. Please guide me how can I go about this issue.
Thanks
CAclubindia
